Obama has borrowed us broke
Posted in the Hayti Forum
#1 Feb 10, 2013
CNSNews.com )- In data released Thursday afternoon, the Federal Reserve revealed that its holdings of U.S. government debt had increased to an all-time record of $1,696,691,000,000 as of the close of business on Wednesday.
The Fed's holdings of U.S. government debt have increased by 257 percent since President Barack Obama was first inaugurated on Jan. 20, 2009, and the Fed is currently the single largest holder of U.S. government debt.
As of the end of November, according to the U.S. Treasury, entities in Mainland China owned about $1,170,100,000,000 in U.S. government debt, making China the largest foreign holder of U.S. government debt.
When Obama was inaugurated in 2009, the Fed owned $475.322 billion in U.S. government debt. As of the close of business on Wednesday, Jan. 23, the Fed owned $1.696691 trillion in U.S. government debt, up $1.221369 trillion during Obama's first term.
Since Obama has been president, the publicly held portion of the U.S. government debt (as opposed to the "intragovernmental" deb the government has borrowed from federal trust funds such as the Social Security Trust Fund) has increased by $5,264,245,866,257.40. The $1.221369 in additional U.S. government debt the Fed has purchased during Obama's presidency equals 23 percent of all the new publicly held debt the Treasury has issued during that time.
#2 Feb 11, 2013
Maybe if you spent more time on whats wrong and why the Republicans cant win, instead of focusing on your hatred toward Obama, maybe you might get somewhere in life CW.
#3 Feb 11, 2013
Care to enlighten the readers on why Bush spent us into a depression with two wars and spent more than any US president? No?...thought so. How about Reagan? No?.....Why? Truth make you feel uncomfortable CW?
#4 Feb 11, 2013
None of it really matters. Obama is going to weaken this countries military and then we will be fair game to all those people that hate us. Russia, China, terrorists. Obama is like an Ostrich he has his head in the sand and seems to keep it there. OK all you retired military people on here guess you all go along with him??????
#5 Feb 11, 2013
So now it doesnt matter to you guest? Then stop starting these rants when it doesnt matter. They all say the same subject. "I hate Obama and I want more people to believe like me so I post under a different name than CW"
#6 Feb 11, 2013
I am tired of seeing your falsehood facts. The truth is that numbers 1 and 2 on the list are both progressive Democrats. FDR at number one and Obama at number two
#7 Feb 12, 2013
Almost everyone believes that Obama has presided over a massive increase in federal spending, an inferno of spending that threatens our jobs, our businesses and our childrens future. Even Democrats seem to think its true. But it didnt happen. Although there was a big stimulus bill under Obama, federal spending is rising at the slowest pace since Dwight Eisenhower brought the Korean War to an end in the 1950s.
In the 2009 fiscal year the last of George W. Bushs presidency federal spending rose by 17.9% from $2.98 trillion to $3.52 trillion. Check the official numbers at the Office of Management and Budget.
In fiscal 2010 the first budget under Obama spending fell 1.8% to $3.46 trillion.
In fiscal 2011, spending rose 4.3% to $3.60 trillion. In fiscal 2012,spending is set to rise 0.7% to $3.63 trillion, according to the Congressional Budget Offices estimate of the budget that was agreed to last August.
Finally in fiscal 2013 the final budget of Obamas term spending is scheduled to fall 1.3% to $3.58 trillion.
Simply put this President has kept taxes low, won the war on terrorism, improved the economy, and kept government spending to its lowest levels EVER. In other words he has done everything the Republicans claim he has failed to do, and everything that they are tried to convince the American people Mitt Romney could have done better. The Right Wing will NEVER believe that they are wrong about this no matter how many times they are shown the facts, but there are still a number of independents and unsophisticated Democrats who need to see the truth as often possible.
#8 Feb 13, 2013
You want to know something? Numbers are great things, you can manipulate numbers to do anything, and I mean anything. Heck, if you know how to manipulate numbers you can just about make number jump up, sing and dance, and even do a comedy monolog. Your numbers are a prime example. You are talking percentage increases in government spending but I can use those exact same numbers to prove that President Obama is a big time spender. If you start with the $2.98 trillion spent in 2009 and look at the spending of 2010, 2011, 2012, each year the spending is $600 billion dollars higher. Add to that every year President Obama has run a $1 trillion deficit. No president in history has run a deficit that big every year for his time in office.
Do you see how numbers can be twisted to prove anything?
The truth is that America is taking in more than enough in revenue but it is overspending. It needs to cut back and I mean across the board.
What would you bank do if you consistently placed $2000 into your checking account and consistently $3000 a month?
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